Evaluation of the significance of social media in the growth of small and medium enterprises
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- Title
- Evaluation of the significance of social media in the growth of small and medium enterprises
- Creator
- Sharon Ahiaba
- Supervisor
- Peter Thomas.
- Date
- 2015
- Abstract
- Successful SMEs have long prospered on word-of-mouth to help promote and grow their business; however during the past few years, the accessibility and affordability of SNS have enabled small businesses to grow at a cost effective. A research has been carried out with seven small and medium enterprises (SMEs) to investigate and evaluate the significance of social media in the growth of SMEs. Preliminary findings suggest that social media offers a cost effective means of growing an SME by increasing brand awareness and sales. Qualitative research was employed through face-to-face and telephone interviews in order to collect rich and in-depth data. The sample size was seven SMEs located in Europe. Analysis of the data collected was done using NVivo software. Ethical issues were considered throughout the research. The research revealed that social media is playing a key role in the case of business growth in SMEs. Most of the business organisations are using this process to increase their brand image, sales, initiate B2B contact and most importantly have a competitive advantage. However it has been noticed that most SMEs do not implement an effective or appropriate social media strategy which in result puts them at great risk as they cannot control the risks of social media effectively. It is recommended that before using social media SMEs must ensure that they have the required skills and appropriate social media strategy in order to successfully grow their business.
- Subject
- International Business Entrepreneurship
- Extent
- 71 pages : colour illustrations
- Format
- Publisher
- Regent's University London
- degree
- BA International Business Entrepreneurship
- Language
- English
- Date Issued
- 2015
- Type
- Report
- Rights Holder
- Regent's University London & Sharon Ahiaba
- Item sets
- Theses or Dissertation